🇳🇬NigeriaWest Africa
Oluremi Tinubu inaugurates Kano road, flags off new construction
via Punch Nigeria1 min read
Senator Oluremi Tinubu, wife of President Bola Tinubu, inaugurated the newly completed Lodge Road in Kano State's Nasarawa Local Government Area and flagged off the construction of Sarkin Yaki Road in the Fagge Local Government Area. Mrs. Tinubu, who was in the state for the Energise Commercialisation Now initiative, was accompanied by Governor Abba Kabir Yusuf and other officials. The projects aim to improve infrastructure and boost economic activities. The First Lady highlighted the importance of quality road infrastructure for movement of people and goods, improved security, and stronger economies, calling for collaboration across government levels. Governor Yusuf described the visit as a testament to partnership for development, stating his administration's commitment to initiatives promoting growth and modernization. He added that the projects would enhance transportation, create business opportunities, and contribute to urban renewal in Kano. The event was attended by senior government officials, traditional leaders, and political stakeholders, including Deputy Senate President Barau Jibrin.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has announced its unaudited financial results for the first quarter ended March 31, 2026. The company reported a revenue of N22.41 billion, marking a 9 per cent growth compared to the N20.64 billion recorded in the same period in 2025. This performance highlights the company's continued dominance in the African market. The management stated that the Q1 2026 performance reflects a strategy focused on discipline, operational efficiency, and consistent value creation. Beyond revenue growth, the company saw a 15 per cent increase in Profit Before Tax, and gross profit margins expanded to 77 per cent. Oluwatobiloba Ojediran, the Chief Finance Officer of Transcorp Hotels Plc, noted that the team's commitment to efficiency did not compromise the guest experience. Ojediran further detailed that the cost of sales margin was reduced from 25 per cent in Q1 2025 to 23 per cent in Q1 2026, demonstrating disciplined execution. Transcorp Hotels Plc, a leader in luxury hospitality, is a subsidiary of Transnational Corporation Plc, a diversified conglomerate with interests in power and energy. The company appears well-positioned to maintain its growth trajectory throughout the fiscal year.
The Transmission Company of Nigeria TCN has commissioned new transmission line connections at the Ihovbor corridor, enhancing the national grid's stability and power evacuation capacity. The project, which includes turn-in-turn-out connections for the Ihovbor/Benin and Ihovbor/Ajaokuta 330kV transmission lines, was successfully commissioned on Wednesday, April 23, 2026. According to Ndidi Mbah, General Manager, Public Affairs at TCN, this development provides additional evacuation capacity for the Niger Delta Power Holding Company NDPHC and Azura Power plants. The Ihovbor/Benin line is currently transmitting approximately 200 megawatts, while the Ihovbor/Ajaokuta line carries about 90 megawatts. TCN stated that this new infrastructure will improve electricity supply reliability by reducing transmission constraints and strengthening overall grid performance, aligning with efforts to modernize Nigeria’s transmission infrastructure.
Must ReadChina has implemented restrictions on seven European entities in the defense sector, citing their involvement in alleged arms sales or "collusion" with Taiwan. The measures, effective immediately, are intended to safeguard national security and interests and fulfill international obligations like non-proliferation, according to the commerce ministry. The curbs prohibit exports of "dual-use items" to the named entities, which include Belgian guns manufacturer FN Herstal, German defense electronics firm Hensoldt, and the Czech Republic's national aerospace research and development center, VZLU Aerospace. The ministry stated that any ongoing related activities must cease, though applications for export could be submitted in truly necessary special circumstances. An unnamed commerce ministry spokesperson clarified that the measures target only a small number of EU entities involved in military-related activities, specifically those that participated in arms sales to Taiwan or engaged in collusion with Taiwan, assuring that "law-abiding and trustworthy EU entities have absolutely no cause for concern." Beijing has increased export controls in recent years, including against 20 Japanese entities in February due to political tensions over Taiwan, and last year's curbs on rare earth exports, which caused global supply concerns. The European Union Chamber of Commerce in China warned earlier this month that Beijing’s stringent export controls pose a "long-term business risk".
Must ReadThe Emir of Kano, Muhammadu Sanusi II, and former Governor of the Central Bank of Nigeria, has questioned the Federal Government's ongoing reliance on borrowing, even after the removal of the petrol subsidy. In an interview with News Central TV, Sanusi stated that while the subsidy removal and exchange rate liberalization were necessary, their timing and a lack of fiscal discipline threaten to undermine potential benefits. He highlighted the systemic failure of supporting foreign refineries while Nigeria's domestic capacity remained dormant, though he expressed optimism about the shift towards domestic production and petroleum product exports. Sanusi raised concerns that liberalizing the exchange rate in a "loose monetary environment" contributed to the naira's rapid depreciation. He challenged the government's continued borrowing, asking, "If you're not paying the subsidy and you've got the money, why are we still borrowing and borrowing? What are we borrowing for?" This comes as the Federal Government increased its 2026 borrowing plan to ₦29.20 trillion and President Bola Tinubu sought approval for a new $516 million loan for the Sokoto-Badagry Superhighway.